Everton call in insolvency advisors amid takeover doubts | OneFootball

Everton have called in restructuring and insolvency advisers with fresh doubts over their takeover by 777 Partners.

In the seven months since the proposed takeover of the Toffees by 777 was announced, the Merseyside outfit have borrowed more than £200m with the club believed to still be waiting for a further £15m of loans.

According to the Guardian, this loan was reportedly pledged to be provided in April, and has prompted the club to make the move with the advisers.

However, 777 appear to be suffering further financial difficulties, with its low-cost airline Bonza entering voluntary administration in Australia, whilst also parting company with its UK based PR advisers over unpaid fees.

This has raised further questions about whether 777 can complete their takeover of Everton, as well as how the club will be funded until the end of the season. This comes only a month after Everton owner Farhad Moshiri reassured fans that the takeover was entering the “home straight.”

The club have also been loaned around £160m by another one of its creditors – MSP and its partners Andy Bell and George Downing, who are Evertonian businessmen, for the new stadium development.

Everton secured their Premier League safety after defeating Brentford 1-0 on Saturday, despite being deducted eight points already this season for Profitability and Sustainability Rules breaches. The club have appealed the second points deduction charge which saw them stripped of two further points.